EXCLUSIVE: Nicky Hilton Gives Birth, Welcomes Baby Girl Lily-Grace!

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A new Hilton heir has arrived!

Nicky Hilton Rothschild and her husband, James Rothschild, welcomed their first child, Lily-Grace Victoria Rothschild, in New York City on July 8, a source confirms to ET.  According to the source, Hilton was surrounded by family when she gave birth on Friday morning, and baby Lily weighed in at 7 and a half pounds.

WATCH: Paris Hilton Throws Pregnant Sister Nicky a Picture-Perfect Baby Shower in New York

The 32-year-old socialite had been eagerly awaiting her mini me, posting updates about her pregnancy on social media. Just two weeks ago, she shared a sweet photo taken while she was prepping her daughter's nursery. "Preparing for the little one's arrival," Nicky captioned the photo that showed cradling her belly.

Last month, Paris Hilton threw her little sister a swanky, picture-perfect baby shower at the Towers of the Waldorf Astoria in NYC. The fête featured an adorable heart-shaped cake covered in mini pink hearts, a rattle, and a rubber ducky, and attendees included the sisters' mom, Kathy Hilton, and Bethenny Frankel.

"Makes me so happy to see my sister so happy, beautiful & glowing," Paris, 35, wrote on Instagram. "So excited for her starting her new family. #Blessed."

The classy affair was actually Nicky's second baby shower. The first was held in May at Hotel Bel-Air in Los Angeles, where the mom-to-be confirmed that she was having a girl. Her sister and mother attended that party as well, as did her father, Richard Hilton; her aunt, Kyle Richards; her pregnant cousin, Brooke Wiederhorn; and many more cousins and family members.

MORE: Nicky Hilton Turns 'Dolce Into Maternity Wear'

Nicky's bundle of joy arrived almost exactly one year to the day of her first wedding anniversary. She and James, a banking heir, wed in a lavish ceremony at Kensington Palace in London, England, on July 10, 2015.

Relive their stunning nuptials -- and that gorgeous Valentino wedding gown! -- in the video below.

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